GAIL has announced a buyback of 6,97,56,641 equity shares for an aggregate amount of not more than Rs.1046 crores with a pricing of Rs.150 per share. The proposal was approved by the board of GAIL In the meeting held on 15 Jan 2021
In order to shore up the government’s disinvestment proceeds, GAIL (India) Limited is soon going to announce a share buyback, said sources
Government owned Gas Authority of India Ltd (GAIL) will soon come up with a buyback offer, Sources said. GAIL will be contributing to the Government’s disinvestment target. GAIL is likely to announce the buyback at a price range of Rs 120 to Rs 130 per share which is at a premium of 20% to 30%.
At the end of FY20, GAIL’s reserves and surplus stood at Rs 37,500 crore. The net cash at the end of the September quarter was Rs 3,000 crore.
GAIL BuyBack 2020 Offer Deal:
| Buyback Type: | Tender Offer |
| Buyback Offer Amount | Rs.1046 Cr. |
| Buyback Start Date | 28 Jan 2021 |
| Last Date of Buyback | Jan 2021 |
| Date of Public Announcement: | 15 Jan 2021 |
| Buyback Offer Size: | 1.15% |
| Buyback Number of shares: | 6,97,56,641 |
| Price Type: | Tender Offer |
| FV: | Rs. 10 Per Equity Share |
| Buyback Price: | ₹ 150 Per Equity Share |
GAIL buyback of 6,97,56,641 equity shares which is around 1.15% of all the existing number of equity shares at a price of ₹ 150 per equity share. The buyback offer not exceeding of ₹ 1046 cr. of total buyback offer size.
Note: If anything you want to know about the buyback offer you can refer the GAIL buyback offer documents. Click Here
GAIL Buyback Important Dates
| Buyback Activity | Date |
|---|---|
| Board Meeting for GAIL Buyback proposal | 15-01-2021 |
| GAIL Buyback Approval date | 15-01-2021 |
| Public Announcement of Buyback | 18-01-2021 |
| Buyback Record Date | 28-01-2021 |
| Buyback opens on/Buyback Opening Date | 25-02-2021 |
| Buyback closes on/Buyback Closing Date | 10-03-2021 |
| Cut-off date to receive completed tender forms by Registrar | 12-03-2021 |
| Cut-off date for verification by the Registrar | 17-03-2021 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar | 18-03-2021 |
| Last date of settlement of bids on the stock exchange | 19-03-2021 |
| Last date to return unaccepted shares by Registrar | 19-03-2021 |
| Last date of extinguishment of Equity Shares | 26-03-2021 |
GAIL India LTD Shareholding Pattern as of ( Sep 2020 )
| Holder’s Name | No of Shares | % Share Holding |
|---|---|---|
| No Of Shares | 4510141866 | 100% |
| Promoters | 2334449987 | 51.76% |
| Foreign Institutions | 675980232 | 14.99% |
| N Banks Mutual Funds | 474880287 | 10.53% |
| Central Govt. | 372612912 | 8.26% |
| Others | 28439143 | 0.63% |
| General Public | 169610543 | 3.76% |
| Financial Institutions | 423984736 | 9.40% |
About GAIL Company
The Company was incorporated on 16th of August. The Gas Authority of India Ltd. (GAIL), one of India’s leading Public Sector Enterprises, is the largest gas transmission and marketing company in the Country. The Company, possessing a well developed and efficient infrastructure, was established as a wholly owned Company of the Government of India in August, 1984 with 100% equity held by the Government of India and, within a short time, it has grown into one of the ‘Navratna’ enterprises and is ranked among the top ten companies in India. The various activities of the Company range from Gas marketing and distribution through trunk and regional systems, to retailing of Natural Gas to Gas processing for production and marketing of LPG, liquid hydrocarbons and Petrochemicals.
The equity pattern in the Company has also changed and the Government today holds about 67% of the equity in the Company.
GAIL has formed Subsidiaries and Joint Venture companies for City Gas Distribution and Petrochemicals. GAIL is one of the pioneers to introduce City Gas Projects in India for gas supplies to households, commercial users and for the transport sector by forming Subsidiaries/ Joint Venture Companies.
GAIL Buyback Registrar
MCS SHARE TRANSFER AGENT LIMITED
Unit: GAIL (India) Limited
F-65, Okhla Industrial Area
Phase – I
New Delhi – 110 020Ph: 011-41406149/50/51/52
Fax: 011-41709881
Website: www.mcsregistrars.com
Email-id: admin@mcsregistrars.com
GAIL Contact Details
GAIL (India) Limited
16, Bhikaiji Cama Place,
R.K. Puram,
New Delhi – 110 066Ph: 011-26172580, 26182955
Fax: 011-26185941For Retail Investors
Shri A.K.Jha, (Company Secretary)
Email-id: ak.jha2@gail.co.in, shareholders@gail.co.in
How to Participate in buyback?
3. Then on [Not Announced] the payment will be given to you for accepted shares and unaccepted shares will be returned to your demat account.
GAIL Buyback 2021 FAQs:
When is GAIL Buyback opening Date?
GAIL buyback 2021 opening date is 25 February 2021
When is GAIL Buyback Closing Date?
GAIL buyback 2021 Closing date is 10 March 2021.
What is GAIL Buyback Price?
The company has fixed the price at ₹ 150
How to apply for GAIL Buyback 2020?
As per the record date you need to have GAIL shares in your demat account. You can participate in buyback after having the stock in your account.
